Acta wins first major development contract with OEM, Sumitomo

LONDON (Thomson Financial) - Acta SPA said it has signed its first major revenue-earning contract with an Asia-based original equipment manufacturer (OEM) and Sumitomo Corp to further develop its catalysts for use in specific commercial applications.

The programme will focus on accelerating the potential commercial launch of products containing Acta's catalysts, the company said.

Sumitomo and the OEM will contribute 0.6 mln eur in the initial four months, while Acta will provide facilities and management support.  

The contract, starting on Dec 1, is for an initial 16 months and can be extended by mutual agreement.